Reliance plans to digitalise 5 million retail shops by 2023 |
India`s richest man and industrialist Mukesh Ambani`s Reliance Industries is entering into the online retailing segment, which according to a study, will help expand the current 15,000 digitised retail stores to over 5 million by year 2023. Reliance is looking at installing its Jio mobile point-of-sale or MPoS device at kirana stores to connect neighbourhood suppliers to its high-speed 4G network that can be used by its customers to order supplies. With RIL`s entry, one can see an increase in merchant adaptability, as the price points will likely come down and reach should expand. As much as 90 per cent of India`s $700 billion retail market is unorganised, made up mostly of neighbourhood kirana stores selling groceries and other sundries. These kirana stores are keen to upgrade their tech and this is driving a wave of modernization. Most retailers are happy with the merchant PoS and believe the return on investment is good, Kirana stores liked the ease of billing/generating GST complaint bills the best. Reliance, RIL is expected to help expand the current 15,000 digitized store base to 5 million-plus stores by 2023 and is working to create the world`s largest online-to-offline e-commerce platform in the country.
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